24
Jun
Jun
Examining the Changes in Retirement
Here are eight major aspects worth examining from the SECURE Act: 1. Increase Small Employer Access to Retirement Plans This will essentially allow small employers to come together to set up and offer 401(k) plans with less fiduciary liability concern …
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14
Jun
Jun
IRS Released New Draft Form W-4
After pushback from taxpayers and tax professionals, the Internal Revenue Service (IRS) promised to revisit form W-4, Employee’s Withholding Allowance Certificate. The IRS issued a statement confirming that “the Treasury Department and the IRS will incorporate important changes into a new …
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12
Jun
Jun
3 Ways to Boost your 401(k) Savings
You could easily shop for bargain-basement fees in your individual retirement account (IRA) or small-company plan. There’s plenty of competition and it is hard not to save. Here are three easy ways to save: 1) Invest in Low-Cost Index Funds. They …
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10
Jun
Jun
Think Twice About Deferring Taxable Income Past 2020
Taking steps to defer your current individual federal income-tax bill is often a good idea, However, in today’s federal income tax environment, you could potentially have “too much” deferral. Here are the two biggest reasons why that could happen. Future …
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07
Jun
Jun
IRS Puts a 100% Penalty for Company Taxes
For anyone with employees, paying employment taxes is inevitable. The taxes are withheld from wages and are supposed to be promptly paid to the government. This is trust fund money that belongs to the government. You never want to become delinquent in paying taxes, especially employment …
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29
May
May
Tax Breaks for Parents
First, you can claim any child as a dependent who is younger than 19 or 24 if he or she is a full-time student or disabled. If you’re separated or divorced, only one parent can claim each child. When filing …
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17
May
May
The Break Down on Audits
The purpose of the audit is to determine that the tax return is substantially correct. At the end of the audit, one of three things are going to happen. Either you will owe the government money, the government will owe …
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13
May
May
Be Wary of Credit Repair Companies
It is almost impossible to open your email or browse online without stumbling across ads to repair your credit. Companies that promise instant and remarkable improvements to your credit cannot deliver on their word. With credit at a premium, families …
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10
May
May
Many Individuals Were Left Shocked by Their Tax Refunds
Many taxpayers were upset when they found out that they owed money to the federal government. And if taxpayers don’t adjust their paycheck withholdings, next year could bring an even bigger surprise. New guidance from the IRS prompted employers to …
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01
May
May
What to Keep After Filing Taxes?
You want to hold on to your tax return and supporting documentation for at least three years. In a few specific situations, some documents will need to be kept even longer. Three years. You typically want to keep your tax returns …
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